According to the National Association of Realtors, 12 percent of all existing home sales last year were not primary residences but vacation homes. Inspite of the gloomy housing forecast, second homes sales are still up. While large numbers of houses are going into foreclosure, another group is not just affording payment on their primary residence but they are also buying second homes. Properties near the beach, in the mountains, near a resort are very popular.
For buyers who want warmer temperature, they usually head south to Florida, North Carolina, South Carolina, Georgia, and Tennessee. For those who love skiing, they are looking up to the ski country. With the heavy snowfall few weeks ago, housing market in the ski areas of Vermont had a surge in sales. If this trend of second home purchase stays, it could only mean that there is still plenty of wealth around and it is a positive welcome to such a depressing market.
For the last 12 years we have been looking for a second home in the South. We visited the west coast of Florida, Charleston and Columbia areas of South Carolina, Charlotte, and Winston-Saleem areas of North Carolina, Richmond, Petersburg, Blacksburg and Charlotteville areas of Virginia and we always came back to Charleston, South Carolina. We found people in Charleston very friendly and polite. There are lots of things to do, see and enjoy. It is a charming town full of history. So we decided to buy a property there and will be moving slowly to Charleston.
Anyone who is thinking of buying a home in the Carolinas either for retirement or investment purposes, let me know and I'll guide through the process.
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